The outgoing Andessen partner wants to apply at least $ 900 million for crypto funds

The outgoing Andreessen Horowitz partner Katie Haun wants to spend at least $ 900 million for two cryptocurrency investment funds, which would be one of the biggest debuts for a new risk capital company.

Haun planned to procure $ 300 million for a fund that invests early in cryptocurrency start-ups, and $ 600 million for another fund that invests in larger companies and digital tokens, said three people who were informed about their plans. Andreessen agreed to the fund as an anchorage investor $ 50 million, said two of the people.

Some people who are familiar with the new Haun fund said they plan to set new, higher goals after receiving a strong demand from wealthy investors. Haun planned to start starting institutions next week, people said.

Fundraising would contribute to a flood of funds for funds that bet on cryptocurrency start-ups early on, a growing focus for established risk capital providers and for a new generation of investors who are ready to take even greater risks than established companies.

Paradigm, led by the former Sequoia Capital partner Matt Huang and coin base co-founder Fred Ehram, collected $ 2.5 billion in November for a cryptocurrency risk fund and thus doubled their original expectations. The announcement was made five months after Andreessen had a 2.2 billion.

The debut of Haun's new company called "Krh" would be one of the largest for every new venture capital group. According to the PitchBook data, new companies based in the United States raised $ 41.3 billion.

Haun, a former federal prosecutor with a focus on cryptocurrency crime, came to Andreessen in 2018 as the first female complementary and helped the procurement of his first fund for digital assets.

Together with Chris Dixon and other Andreessen partners, Haun contributed to promoting the concept of "Web3"-Internet applications organized by cryptocurrency stakes, which has led to controversy among some software developers.

A spokesman for Haun said that Andreessen and Krh would "work together to support founders and projects in this area and continue the web3-policy program built this year". Haun would help invest the rest of Andessen's latest $ 2,2 billion funds, said the spokesman.

The Haun's investments at Andreessen belonged to OpenSea, a non-fungi token marketplace, the value of which quickly shot up with the boom of the block chain-based collectors. Paradigm and the investment company Coatue Management carried out a $ 300 million investment this week, the Openea rated $ 13.3 billion after investors rated the start-up last July with $ 1.5 billion.

Krh also took part in the financing round, said a spokesman for Haun and called it "a special moment for the team". The spokeswoman said she had no further details about the fund.

"When Chris and I founded our first crypto fund in 2018, it was a monshot experiment. Thanks to the hard work of many, our two boldest expectations exceeded it," said Haun in a statement in which she announced her farewell last month. "Today it is clearer than ever that Web3 will change the Internet."